Housing cost is Paramount in minds of Canadian youth
While a robust national economy keeps on bringing more prominent Purchasing Power, Canadians are concerned about housing and its related expenses, as indicated by a survey done by CBC News.
The survey found that during the second quarter of the year, fears concerning housing and living prices proliferate with 32% of youthful Canadians admitting these as their major sources of concern.
Such incites have outlined several youngsters mental landscapes and monetary plans to the purpose to seek help. A Leger survey authorized by FP Canada found that the “Bank of Mom and Dad” is helping with home buys, yet in addition with rental bills.
The study found that 24% of Canadians with grown-up kids monetarily helped their youngsters in ending up first-time home purchasers. Almost half (48%) showed that they plan on assisting with home buys once their underage kids grow up.
Meanwhile, the maximum amount as 35% of Canadians helped in paying for their grown-up posterity’s lease costs. More than 33% additionally expressed that they want to help their children in paying rent, once they choose to become tenants.